Rapt Therapeutics (NASDAQ:RAPT) Receives $48.44 Average PT from Brokerages

Rapt Therapeutics (NASDAQ:RAPT) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $48.4444.

RAPT has been the subject of several recent analyst reports. Clear Str cut Rapt Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. TD Cowen downgraded shares of Rapt Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapt Therapeutics in a research note on Thursday, January 22nd. Barclays downgraded shares of Rapt Therapeutics from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a research report on Wednesday, January 21st. Finally, HC Wainwright lowered shares of Rapt Therapeutics from a “buy” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Tuesday, January 20th.

Rapt Therapeutics Trading Down 0.1%

Shares of NASDAQ:RAPT opened at $57.74 on Friday. The firm’s 50 day moving average is $41.64 and its two-hundred day moving average is $28.71. The firm has a market capitalization of $1.60 billion, a P/E ratio of -5.22 and a beta of 0.47. Rapt Therapeutics has a 52 week low of $5.67 and a 52 week high of $57.86.

Institutional Trading of Rapt Therapeutics

Institutional investors have recently modified their holdings of the company. Boone Capital Management LLC bought a new position in Rapt Therapeutics during the third quarter valued at about $20,180,000. Goldman Sachs Group Inc. lifted its holdings in Rapt Therapeutics by 312.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 254,053 shares of the company’s stock valued at $8,605,000 after acquiring an additional 192,477 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Rapt Therapeutics during the 1st quarter valued at about $188,000. Invesco Ltd. acquired a new position in shares of Rapt Therapeutics in the 3rd quarter worth approximately $3,625,000. Finally, Geode Capital Management LLC raised its holdings in shares of Rapt Therapeutics by 97.4% in the 4th quarter. Geode Capital Management LLC now owns 239,790 shares of the company’s stock worth $8,125,000 after purchasing an additional 118,326 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

Rapt Therapeutics Company Profile

RAPT Therapeutics, Inc (NASDAQ:RAPT) is a clinical-stage biotechnology company developing novel therapeutics for autoimmune and allergic diseases. Founded in 2013 and headquartered in San Diego, California, RAPT applies tissue-selective immunology to design small molecule and biologic candidates that modulate immune cell trafficking and tissue-resident pathways. The company’s research platform enables the identification of targets that drive tissue inflammation with the goal of achieving improved efficacy and safety profiles over current therapies.

The company’s lead asset, RPT193, is an orally available antagonist of the CC chemokine receptor 4 (CCR4), currently in clinical development for atopic dermatitis and allergic asthma.